Press Release

Doosan Corporation announced on April 20 that it has completed purchasing the assets of the Walkerhill Duty Free Shop, including its integrated logistics warehouse and IT systems, from SK Networks. The purchase deal grants Doosan Corporation the right to use the 1,818-square-meter storage space at the integrated logistics warehouse in the Incheon Free Trade Zone as well as the ownership of the IT systems for business operations support systems and online shopping operations. However, the deal excludes Walkerhill Duty Free’s inventories. Furthermore, Doosan Corporation has completed the hiring of employees in the areas of merchandising, sales, logistics, marketing and more, which are both directly and indirectly related to duty-free operations. Along with the integrated logistics warehouse, the purchase deal also includes warehouse fixtures and equipment such as storage compartments, CCTV cameras and monitors, which will dramatically reduce the time required to launch the operations of the Doota duty-free business. The IT systems have been optimized to more efficiently run the Doota duty-free business and are currently under test operations. Most notably, its online duty-free shop has been established as a new brand identity of Doota Duty Free, and the website and application in Korean and Chinese will open at the same time the offline duty-free store opens. “We are faithfully carrying out the preparation work to open Doota Duty Free in mid-May as scheduled,” said an official of Doosan Corporation.